Kerr negotiating with potential buyers LANCASTER, PA. — Kerr Group Inc. announced it is discussing the possible sale of the company with several undisclosed third parties.
Kerr also is continuing negotiations with lenders regarding restructuring of its debt, according to a June 16 news release the company issued in response to recent stock activity.
The Lancaster-based plastics packaging manufacturer defaulted in March on financial covenants under loan agreements for $50.9 million of unsecured debt.
The company owns manufacturing plants in Ahoskie, N.C., and Lancaster, and leases facilities in Jackson, Tenn., and Bowling Green, Ky.
Canadian packager CCL acquiring Seda
TORONTO — CCL Industries Inc. of Toronto has agreed to purchase Seda Specialty Packaging Corp. of Los Angeles in a deal valued at US$185 million and financed primarily with debt.
The transaction is expected to be completed by the end of July, CCL said in a June 17 news release. CCL has sales of more than C$1 billion (US$720 million) and is a custom manufacturer of plastic containers and labels, and aluminum tubing.
Seda, with 1997 sales projected at US$70 million, makes flexible polyethylene tubes for personal-care and pharmaceutical applications, plastic caps, closures, jars and bottles. It has manufacturing facilities in Los Angeles and Plattsburgh, N.Y.
CCL said Shawn Sedaghat, Seda chairman, president and chief executive officer, will continue to lead the packaging business, which will become part of CCL's Container Manufacturing Division.
Welder maker opens plant in S. Korea
CHICAGO — Minneapolis-based Forward Technology Industries Inc. (NPE Booth S367) has established a a sales and service office and a manufacturing facility for hot-plate welders and ultrasonic welders in South Korea.
Product manager Paul Burlingame would not disclose the cost of the facility, but said in an interview at NPE in Chicago that it will sell and service all of the company's equipment for plastic assembly and leak testing there.
The company also introduced its LVW-2046 vibration welder with several different welding modes, an automatic feedback system and automatic frequency tuning. The machine sells for about $95,000, Burlingame said.
Wilmington displays industrial molding
CHICAGO — Wilmington Machinery (Booth S1980) is applying its technology and experience with multilayer blow molding equipment to industrial blow molding, and is demonstrating the results for the first time, at NPE.
Its Model 15.60.3 Coex industrial blow molding machine features an intermittent, reciprocating extruder coupled with a simple side-feed head. This allows for accurate parison formation similar to an accumulator head, but without the complexity and moving parts of an accumulator head. Parison hang time is reduced. Another feature is the tie-barless clamp.
The machine blow molds two- to seven-layer hollow objects for encapsulating recycled materials. The machine has capacity for parisons as large as 100 pounds, and has a brute-force hydraulic power unit that requires no hydraulic accumulators.
Automotive moldings include fuel tanks, spoilers and under-the-hood fluid canisters, as well as toys, furniture, liquid containers and other products.
DuPont Dow expanding Engage capacity
CHICAGO — DuPont Dow Elastomers (Booth S2411) announced it will expand capacity for its Engage-brand thermoplastic elastomers by 100 million pounds at Dow Chemical Co.'s Freeport, Texas, site.
The extra capacity will be on line by October, according to Engage global business manager Robert Bernacki, who made the announcement in a June 17 interview at NPE.
Total Engage capacity at Freeport will stand at 300 million pounds after the expansion.
The company also will increase Engage capacity at Dow Chemical's Tarragona, Spain, plant.
Bernacki said Engage has had success replacing ethylene vinyl acetate copolymers, flexible PVC, styrene block copolymers and ethylene propylene diene monomer rubber in uses ranging from floppy disk holders to furniture glides to athletic equipment.
Engage, which uses Dow's Insite-brand metallocenelike catalysts and process technology, also is being used to augment thermoplastic olefins in such automotive uses as bumpers.
DuPont Dow was formed in 1996 to combine DuPont Co.'s synthetic rubber technologies with Dow's polyolefin elastomer technologies. The company posted sales of $1.1 billion last year.